The Business Of Generations 11 10 09

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It raises the question of whether a company\'s managers are prepared to meet the demands of the next two generations

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  • Didn’t receive a lot of formal training Smallest Generation in the Workforce Want to be seen as Individuals 10% of Gen X’ ers are Entrepreneurs
  • Tell me how to do it and then leave me alone Want honesty and directness Praise focused on job and results not time spent Respect time off Community Involvement Valued
  • Highest maintenance with the most potential Their point of view is the most important They are entitled….We did it! Self Esteem…Everybody gets a trophy.
  • They want access to leadership Mentor relationships important Want their opinions to be asked for and heard Telecommuting and Recognition Important Action learning important Electronic forms of learning a positive
  • The Business Of Generations 11 10 09

    1. 1. Is your organization prepared ?
    2. 2.
    3. 3. Oops!
    4. 4.
    5. 5. The Three Generations at Work Traditionalists Veterans Boomers Gen X Latchkey Kids Sandwich Gen Y Millennials Echo Boomers 1920-1940 1946-1964 1965-1979 1980-1994 80 Million 50 Million 76 Million 35% of workforce >60% of workforce Fastest growing segment of workforce Work first <ul><li>Live to work </li></ul><ul><li>Lines between work and life blur </li></ul><ul><li>Work to Live </li></ul><ul><li>Work to afford to live </li></ul><ul><li>Live, then work </li></ul><ul><li>Squeeze work in after living </li></ul>
    6. 6. <ul><ul><li> 56% of all current national leaders are Baby Boomers </li></ul></ul><ul><li> 77.5 Million people, according to AARP will be vacating the work force in the next five years. (2008) </li></ul><ul><li> There are only 46 million people coming in behind them as potential replacements </li></ul><ul><li> These numbers reflect why the business community needs to be concerned about losing critical historical knowledge </li></ul>
    7. 7. “ A Generation is shaped by the events and circumstances its members experience at certain phases of life, beginning with childhood. Common generational traits initially develop as a result of social attitudes toward children and child rearing norms at the time.” - William Straus and Neil Howe Authors of Generations and 13 th Gen
    8. 8. Their Events & Circumstances History & Events Boomers Gen X Gen Y Era American High Consciousness Revolution Culture Wars & Roaring 90’s Presidents Truman to Kennedy LBJ to Carter Regan to Clinton Confrontations Abroad Korea to Cuba Vietnam to Iran Iraq to Kosovo Economy Affluent Society Stagflation Long Boom Popular Phrases Cold War Great Society Morning Again Ask Not Hell No! Kinder, Gentler I Have A Dream Limits to Growth Family Values
    9. 9. Their Influences…Their World Society & Culture Boomers Gen X Gen Y Child Nurture Relaxing Under protective Tightening Family Policy Priority Needs of Community Needs of Adults Needs of Children School Emphasis Excellence Liberation Standards Gender Role Gap Wide Narrowing Narrow Racial Goal Integration Assertion Diversity Income Equality Rising Peaking Falling Popular Culture Homogenizing Confrontational Fragmenting
    10. 10. <ul><li>Born circa (1946 – 1964) </li></ul><ul><li>76 Million </li></ul><ul><li>There are two categories of Boomers </li></ul><ul><ul><ul><li>Baby Boomer #1 (1946 – 1955) </li></ul></ul></ul><ul><ul><ul><li>Baby Boomer #2 (1956 – 1964) </li></ul></ul></ul>
    11. 11. <ul><li>Boomers at Work </li></ul><ul><li>Very loyal </li></ul><ul><li>Will work required hours </li></ul><ul><li>Process and quality focused </li></ul><ul><li>Won’t try to jump the career queue </li></ul><ul><li>Abide by the hierarchy of corporate structure </li></ul>
    12. 12. <ul><li>What Boomers Want? </li></ul><ul><li>Viewed as valued and needed </li></ul><ul><li>Respect for their skills, knowledge and potential </li></ul><ul><li>Flexible goals and guidelines </li></ul><ul><li>Flexible scheduling </li></ul><ul><li>Rich benefits </li></ul><ul><li>Technology training </li></ul>
    13. 13. <ul><li>Averaging 3–5 years in any one organization </li></ul><ul><li>Received very little formal training in the work place, learned on the fly </li></ul><ul><li>Will not sell their souls to the job 24/7 </li></ul><ul><li>Work/life balance over money and career advancement </li></ul><ul><li>Moving in and out of the workforce to accommodate kids and outside interests </li></ul><ul><li>Frequently distrusting corporate motives </li></ul>
    14. 14. <ul><li>Gen X at Work </li></ul><ul><li>Technologically savvy </li></ul><ul><li>Willing to embrace change </li></ul><ul><li>Efficient and results focused </li></ul><ul><li>Desires responsibility and autonomy </li></ul><ul><li>Demands feedback </li></ul><ul><li>Socially conscious </li></ul><ul><li>Wants a fun/social workplace </li></ul>
    15. 15. <ul><li>What Gen X Wants </li></ul><ul><li>Responsibility and autonomy </li></ul><ul><li>Feed back in terms of praise, but without sugarcoating the negative </li></ul><ul><li>Offer core hours and respect time off </li></ul><ul><li>A company with a social conscience </li></ul><ul><li>A fun workplace </li></ul><ul><li>Training and increased responsibility as a reward </li></ul>
    16. 16. <ul><li>Fortune Magazine referred to Gen Y as the highest maintenance, but potentially the highest performing generation in history </li></ul><ul><li>Viewed as entitled </li></ul><ul><li>Outspoken </li></ul><ul><li>Inability to take criticism </li></ul>
    17. 17. <ul><li>Gen Y at Work </li></ul><ul><li>Super tech savvy </li></ul><ul><li>New levels of productivity </li></ul><ul><li>Competitive </li></ul><ul><li>Embrace change </li></ul><ul><li>Demand improvement </li></ul><ul><li>Comfortable with a global workplace </li></ul><ul><li>Use social media and friends network </li></ul>
    18. 18. <ul><li>What Gen Y Wants </li></ul><ul><li>Great relationship with their manager </li></ul><ul><li>Strong individual/corporate value alignment </li></ul><ul><li>Open communication about workplace policies </li></ul><ul><li>Mobility </li></ul><ul><li>Access to technology </li></ul><ul><li>Multitasking environment </li></ul><ul><li>Immediate gratification and feedback </li></ul><ul><li>Structure and supervision </li></ul><ul><li>Transparency </li></ul>
    19. 19. <ul><li>Ryan Healy's post in May 2009, </li></ul><ul><li>&quot;10 Ways Generation Y Will Change the Workplace.&quot; </li></ul><ul><li>They will: </li></ul><ul><ul><li>1 . Hold only productive meetings 2. Shorten the work day 3. Bring back the administrative assistants (to relieve Gen Y of minutia) 4. Redefine retirement (many short &quot;retirements&quot; along a career path) 5. Find real mentors 6. Restore respect to the HR Department 7. Promote based on emotional intelligence 8. Continue to value what our parents have to offer 9. Enjoy higher starting salaries 10. Re-invent the performance review </li></ul></ul>
    20. 21. <ul><ul><li>68% of Baby Boomers feel “younger people” don’t have as strong a work ethic as they do and that makes doing their own work harder, and </li></ul></ul><ul><ul><li>32% of Gen X-ers believe the “younger generation” lacks a good work ethic which is a problem </li></ul></ul>
    21. 22. <ul><ul><li>13% of Gen Y-ers say the difference in work ethic across the generations causes friction. They believe they have a good work ethic for which they’re not given credit. </li></ul></ul>
    22. 23. <ul><ul><ul><ul><li> Each Generation believes their work ethics are fine, while flash points are erupting…. </li></ul></ul></ul></ul><ul><ul><ul><ul><li>The Challenges …. </li></ul></ul></ul></ul><ul><ul><ul><li> Merging generations to breed success </li></ul></ul></ul><ul><ul><ul><li> Creating a collaborative workforce </li></ul></ul></ul><ul><ul><ul><li> Creating business growth thru positive behavioral change </li></ul></ul></ul><ul><ul><ul><li> Remembering that age defines a demographic not a person </li></ul></ul></ul>
    23. 24. The issues for the organization: Financial – cost of transitioning, lost revenue from talent loss or underutilization People & Performance – getting the most out of talent, reinforcing behaviors that support openness and morale, willingness to address generational differences Leadership – transparent, sets clear objectives, and is seen as &quot;fair&quot; to both older and younger workers Governance-related – workable policies, flexibility, best practices that are consistent with stated values The issues for individuals are: Psychological – identity, self-esteem, denial, etc Career – a fulfilling next phase Economic – lifestyle, security Health/fitness – maintaining it Legacy – contributions: both financial and through involvement
    24. 25. Boomers Gen X Gen Y Generational Retention Challenges <ul><li>Give perks with status </li></ul><ul><li>Recognize the quality of their work </li></ul><ul><li>Respect the work ethic, acknowledge the long hours but don’t endorse it </li></ul><ul><li>Manage them by process, but make sure the process leads to the desired results </li></ul><ul><li>Lots of projects </li></ul><ul><li>Constant constructive feedback </li></ul><ul><li>Tell less-coach more </li></ul><ul><li>Provide time to pursue other interests </li></ul><ul><li>invest in technology </li></ul><ul><li>Invest in their development </li></ul><ul><li>Manage by results, not by process </li></ul><ul><li>Be highly aware of values as drivers </li></ul><ul><li>Know personal goals and blend them with organizations goals </li></ul><ul><li>Equality is paramount, ability & performance are the only acceptable measures </li></ul><ul><li>Provide constant skill development </li></ul><ul><li>Assign senior staff to mentor </li></ul><ul><li>Multi-task them </li></ul>
    25. 26.
    26. 27. Are your managers prepared to lead ?
    27. 28. <ul><ul><ul><li>The Generations and the Attitude Revolution , Christina Scheiner, Effective Professional Institute, LLC, 2007 </li></ul></ul></ul><ul><ul><ul><li>10 Generational Truths, Josephine Rossi, T & D Magazine, November 2007 </li></ul></ul></ul><ul><ul><ul><li>Generations at Work, Ron Zemke, Claire Raines and Bob Filipczak, Executive Book Summaries, April 2000 </li></ul></ul></ul><ul><ul><ul><li>Getting to Know Generation X, NAS Recruitment Communications </li></ul></ul></ul><ul><ul><ul><li>New Learning Strategies for Generation X, Bettina Lankard Brown, ERIC Clearinghouse on Adult Career and Vocational Education, 2009 </li></ul></ul></ul><ul><ul><ul><li>Coaching Generation X, Terri Nagle, Center for Coaching and Mentoring Inc., 2007 </li></ul></ul></ul><ul><ul><ul><li>Generation X: Stepping Up to the Leadership Plate, Deborah Gilburg, www.cio.com </li></ul></ul></ul><ul><ul><ul><li>Generation Y at a Glance, NAS Recruitment Communications </li></ul></ul></ul><ul><ul><ul><li>Working with Generation Y and Z , www.itistimetogetalife.com , September 2007 </li></ul></ul></ul><ul><ul><ul><li>Generation Y – The Millennial Generation , Julie Coates , Generational Learning Styles , 2007 </li></ul></ul></ul><ul><ul><ul><li>Boomers, Gen-Xers & Millennials: Understanding the New Students , Diana Oblinger, Educause Review, July/August 2003 </li></ul></ul></ul><ul><ul><ul><li>What Gen Y Really Wants, Penelope Trunk, Time Magazine, July 5, 2007 </li></ul></ul></ul><ul><ul><ul><li>growing up digital…how the generation is changing your world, Tapscott 2009 </li></ul></ul></ul>Generations Source References
    28. 29. <ul><li>20 Cabot Boulevard, Suite 300 </li></ul><ul><li>Mansfield, MA 02048 </li></ul><ul><li>t . 508.923.0918 </li></ul><ul><li>c. 508.972.2775 </li></ul><ul><li>[email_address] </li></ul><ul><li>www.heritagehillpartners.com </li></ul><ul><li>Norman W. Gauthier </li></ul><ul><li>Managing Partner </li></ul>

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